UK regulators work to devise performance scorecards

The UK Regulators Network (UKRN), along with the FCA, Ofcom, Ofgem, Ofwat and the Consumer Council for Water, have been collaborating to develop a set of performance scorecards, measuring customer experience across key sectors.

On 9 January, UKRN published Moving forward together, in which it brought together scorecards from each of the four sectors. The goal of the scorecards are to help regulators and regulated companies to determine where to focus action; to increase the incentives for suppliers to improve performance; and provide regulators and policymakers with indicators to help identify and address any common challenges across sectors.

Consumer Minister, Kelly Tolhurst, said: “Performance scorecards will be a welcome step for customers: providing them with trusted, impartial information to compare how well companies deliver for their customers. This will help people make an informed judgement about who should provide them their water, telecoms, energy and essential financial services – but it will also incentivise companies to improve their performance to attract customers and beat their competition.”